The summit’s theme — resilience — ricocheted through the lower Manhattan event center as an impressive army of speakers from top global brands and innovative organizations not as well known — yet — grappled in lively sessions with the challenges facing online retailers today.

“Resilience in Action” was the formal tagline for the annual event and in fact while “resilience” thumped through the keynotes and break-out sessions it was the “action” end of things that stole the show. 

Ecommerce is entering a new era, which was clear from Signifyd CEO Raj Ramanand’s opening keynote presentation to the closing Champagne toast. Future success depends on profitable growth, Ramanand said, rather than growth at all cost — and profitable growth is built by establishing maximum trust of and personalization with brands’ customers. 

How do trust and personalization relate to customer lifetime value?

For hours after the opening, panels and presenters drove home the strategies and tactics that can lead to that kind of trust and personalization and ultimately to maximum customer lifetime value.

The third annual FLOW, like its predecessors, was no trade show requiring the agility of a ballerina to avoid solution providers selling their wares, all while hiking between educational sessions dispensing actionable insights. 

The day-long event in New York was more akin to a salon where more than 300 commerce professionals gathered to take in tactics, strategy and advice, but also to hand out wisdom from their experiences, successes and challenges. FLOW is a conversation — and of course it, um, flows both ways. 

FLOW Summit 2024 is available on demand

If you were there, you know what we mean. If you weren’t, well, we’ve got you covered. We bottled the wisdom, words and action in a series of on-demand videos available on the Signifyd website. 

The post Signifyd’s FLOW Summit 2024 lives on — on demand appeared first on Signifyd.

Signifyd CEO Raj Ramanand welcomed the 300-or-so retail and digital commerce professionals to the lower Manhattan conference center by framing the near future of ecommerce as one that calls for a focus on profitable growth based on a strategy of maximum trust and personalization.

“A delightful customer experience consists of two things,” Ramanand said. “One, I as the retailer, as the brand, have to trust who that person is. And two, once I can do that, I need a way in real time, at the moment when someone is making a return, when someone is checking out, at that moment, I need to be able to personalize that experience.”

Maximum trust and personalization, Ramanand explained, are the key to building lifetime customer value and changing course from an unhealthy dependence on constantly acquiring new customers — customers who are expensive and as likely to be short-term fans as they are to be long-term shoppers.

Yes, some retailers are already moving down the path to maximum trust and personalization; a few are far down the path. For others there is work to do.

Technology is the key to maximizing customer lifetime value

“It’s not all doom and gloom,” Ramanand said. “This is the moment for retail. When you get to profitable growth, you’re making choices. You can’t spend money in an unlimited fashion. You have to pick your one or two bets and you have to optimize the business. And the ability to do that only comes with innovation and the ideas you have to think about.”

Ramandan’s call for increased trust and personalization comes against a backdrop of how far retail has come since the turn of the century.

In the early 2000s, the store was still where it all began. It was the spiritual hub for shoppers and where their buying journeys started. Within a decade (and we’re looking at you, iPhone) mobile became the device and activity that was driving growth for merchants. 

Meanwhile, retailers who had been focused on the in-store experience started looking to take advantage of the rise of digital, plotting ways to anticipate a digital shopper’s next move and prepare to convert them. The focus was transactions — how much value can I extract from a consumer’s digital journey?

There was a lot of talk about digital transformation and it seeped through marketing, merchandising, ecommerce platforms, checkout, customer service, fulfillment. The ideas were churning as fast as the technology was advancing. 

But transformation wasn’t really the right word. It implies a finished product. Ramanand’s presentation made it clear that the “transformation” is ongoing. Call it an evolution, a constant work-in-progress or digital transformation — v-dot-infinity.  

A move from transactions to relationships fuels a new era of ecommerce

Brands now have the tools — thanks in large part to advancing artificial intelligence — to upend the transactional model and strive for something more powerful and more lasting. Relationships.

The ongoing evolution has shifted the focus of the consumer/brand relationship, Ramanand explained. Forward-focused brands and merchants no longer view customers as “value-extraction” targets to be marketed at. Customers in the new era are value-creation partners to be collaborated with. Each buying journey is an investment in the future and in a better customer experience and a more lucrative customer lifetime value.

When it’s done right, one buying journey leads to the next — and repeat. 

It was a message that resonated for the hundreds of retail professionals who gathered in New York at the Convene event center for sessions that explored topics including the role of AI in commerce, the rise in first-party fraud, the challenges of returns, advances in payments — and it included a toast to Signifyd’s 2024 Most Influential in Ecommerce. The day also featured a keynote from makeup artist and entrepreneur Bobbi Brown, who shared lessons from her 30 years as an entrepreneur. 

And throughout the event, the expertise was flowing from invited industry experts representing Forrester, Mastercard, Canadian Tire, Lenovo, Discover, Worldpay, Square, Abercrombie & Fitch, Christian Louboutin, BetMGM, Pandora, Michaels, Genuine Parts Company, Rainbow Shops and others.

Advances in AI provide rapid insights into customers

But the day started with Ramanand pointing to the potential role of technology advances in the ongoing evolution of ecommerce. And this is a heady time to talk about that. Solutions driven by artificial intelligence and the companies that design, build and bring them to market have provided brands with the power to change the way retail is accomplished. Brands have unprecedented insights into their customers — their identity and intent. They now have the ability to know what works, not just for the brands, but what works for consumers and how they can run their businesses in ways to better serve those consumers.

Brands and merchants have nearly instant insights based on a wealth of data to guide them in building customer journeys that replace outdated paths to purchase that were often disconnected and dissatisfying. 

Commerce enterprises can now understand who their best customers are and in fact which customers are likely seeking to take advantage. And they can understand which customers belong to criminal enterprises that have been advancing their own digital transformation in order to industrialize ecommerce fraud and abuse. 

Retailers and their partners have an industry-changing opportunity ahead

Brands and retailers are now able to optimize every aspect of their operations to produce the sort of flawless customer experience that promotes customer lifetime value and long-term profitability for the enterprise and for investors, alike. And much of that ability is made possible by partners who specialize in advancing the technology that makes that optimization possible. 

The path to retail success, then, harkens back to a key theme from last year’s FLOW: The winners will be those who assemble a combination of partners that provides and constantly improves the technology to gain a view into who the consumer is and what the consumer wants — while providing the operational prowess to deliver on that. 

Are you prepared for ecommerce’s new era? Let’s talk.

The post Signifyd FLOW: customer lifetime value powers the new era of ecommerce  appeared first on Signifyd.

The discussion turns to network solutions like 3DS. While panelists acknowledge its role in fraud reduction, they express concerns about misaligned incentives and high costs. Visa’s Compelling Evidence 3.0 Program, which lays out specific rules to challenge chargebacks and provides a path to liability shift, is seen as a promising change.

Key takeaways:

• Data sharing benefits both merchants and issuers
• Open communication and trust are crucial
• Privacy concerns can be addressed through regulations and responsible practices
• Alternative solutions like Visa’s program offer promise
• Commerce protection vendors can play a key role in streamlining data flows and collaboration

This FLOW Summit session highlights the power of collaboration in transforming the payments ecosystem. By embracing data-driven solutions and open communication, stakeholders can create a future of frictionless transactions, increased revenue and a more secure payments landscape. Watch it now.

Shape your ecommerce future at FLOW Summit 2024

Join industry leaders in New York City on April 17, for Signifyd FLOW Summit, an immersive experience designed to equip you with the resilience needed to thrive in the evolving retail landscape.

Dive deep into

• Actionable strategies to navigate, change, combat fraud and build lasting customer loyalty
• Engaging sessions led by renowned brands like Abercrombie & Fitch and Forrester
• Dedicated tracks for both ecommerce and fraud & risk professionals

Network with 350+ peers and forge valuable connections that will propel your business forward. Explore the agenda for a full breakdown of topics and speakers.

Don’t miss this exclusive opportunity to shape your ecommerce future. Register now!

The post Data sharing: Unlocking frictionless payments and revenue with collaboration – a FLOW Summit replay appeared first on Signifyd.

From simple analysis to creative generation: We’ve come a long way from the early days of AI struggling to identify basic shapes. The 2012 breakthrough, marked by Google’s feat of recognizing cats in YouTube videos, ushered in a new era of featureless AI learning. This paved the way for powerful generative models like GPT-3 and ChatGPT, capable of not just analyzing data but generating human-quality content, including text and images.

Revolutionizing retail with practical applications: Imagine AI assistants simplifying data analysis for business users, like Zenlytic does with conversational BI tools. This is just the tip of the iceberg when it comes to practical applications. Generative AI can:

• Craft personalized marketing messages and product descriptions: Say goodbye to generic copywriting! AI can tailor content to individual customers, boosting engagement and conversion rates.
• Automate image editing: Photoshopped product visuals? Not anymore. AI can modify images on the fly, saving time and resources while ensuring brand consistency.
• Streamline email marketing: Forget about manually piecing together emails. AI can generate personalized emails based on customer data and purchase history, adding a human touch without the human effort.

Beyond automation: The future of work: As AI takes over routine tasks, workforce dynamics are bound to shift. While some jobs may become obsolete, new opportunities will emerge, requiring different skill sets.

Navigating the ethical landscape: With great power comes great responsibility. The ethical considerations of AI are crucial, and the session addressed them head-on. Concerns over bias, transparency and potential job displacement are discussed, emphasizing the need for responsible development and implementation. Scott Friend’s analogy of using AI in the middle, with human oversight ensuring brand voice and ethical consistency, resonates strongly.

The takeaway: The generative AI revolution is upon us, and it’s transforming the way we shop and sell. Embracing this technology thoughtfully, with a focus on human-AI collaboration and ethical considerations, will be key to unlocking its immense potential for a better retail future.

Shape your ecommerce future at FLOW Summit 2024

Join industry leaders in New York City on April 17, for Signifyd FLOW Summit, an immersive experience designed to equip you with the resilience needed to thrive in the evolving retail landscape.

Dive deep into

• Actionable strategies to navigate, change, combat fraud and build lasting customer loyalty
• Engaging sessions led by renowned brands like Abercrombie & Fitch and Forrester
• Dedicated tracks for both ecommerce and fraud & risk professionals

Network with 350+ peers and forge valuable connections that will propel your business forward. Explore the agenda for a full breakdown of topics and speakers.

Don’t miss this exclusive opportunity to shape your ecommerce future. Register now!

The post From pixels to profits: How AI is painting a new picture for retail – a FLOW Summit replay appeared first on Signifyd.

The genesis of a fashion icon: Rebecca Minkoff recounts the origins of her brand, starting from her early passion for craftsmanship and design, which led to the establishment of her globally recognized fashion brand.

Embracing risks and overcoming setbacks: A significant focus of her talk is on the importance of taking risks and learning from failures. Minkoff shares personal stories of challenges she faced and how they shaped her career, emphasizing resilience and adaptability.

Championing gender equality: Minkoff highlights her efforts in advocating for women’s equality in the business world. She discusses her initiative, the Female Founder Collective, and its impact on supporting women entrepreneurs.
Venturing into new frontiers: The session also touches upon Minkoff’s exciting new projects and collaborations, reflecting her forward-thinking approach in the ever-evolving fashion landscape.

Fashion trends and business insights: Minkoff provides a glimpse into upcoming fashion trends and shares valuable business insights, showcasing her expertise in balancing creative vision with commercial success.

This session recorded at FLOW Summit 2023 offers a unique blend of personal narrative, industry insights, and practical advice, making it a must-watch for anyone interested in the intersections of fashion, entrepreneurship, and innovation. Watch it now.

Shape your ecommerce future at FLOW Summit 2024

Join industry leaders in New York City on April 17, for Signifyd FLOW Summit, an immersive experience designed to equip you with the resilience needed to thrive in the evolving retail landscape.

Dive deep into

• Actionable strategies to navigate, change, combat fraud and build lasting customer loyalty
• Engaging sessions led by renowned brands like Abercrombie & Fitch and Forrester
• Dedicated tracks for both ecommerce and fraud & risk professionals

Network with 350+ peers and forge valuable connections that will propel your business forward. Explore the agenda for a full breakdown of topics and speakers.

Don’t miss this exclusive opportunity to shape your ecommerce future. Register now!

The post Rebecca Minkoff’s fearless approach to fashion and entrepreneurship – a FLOW Summit replay appeared first on Signifyd.

Our theme this year is “Resilience In Action” and we will explore stories of how ecommerce and risk leaders have not just survived, but elevated in the face of rapid change. Here are three compelling reasons why you simply can’t afford to miss out on FLOW Summit:

Reason 1: Learn from entrepreneur extraordinaire Bobbi Brown

Ever wondered what it takes to build a billion-dollar brand from the ground up? At FLOW Summit, you’ll have the opportunity to hear from none other than makeup artist and entrepreneur Bobbi Brown herself. With over 30 years of experience in the industry, Brown has weathered her fair share of challenges and triumphs. 

From identifying and leveraging market trends to turning roadblocks into creative opportunities, Brown will share invaluable insights that are sure to inspire and empower aspiring entrepreneurs and seasoned retail professionals alike. Don’t miss this chance to gain firsthand wisdom from one of the most successful businesswomen of our time.

Register and join us and the 350 other ecommerce leaders who will gather at FLOW Summit on April 17.

Reason 2: Network with industry leaders

They say your network is your net worth, and at FLOW Summit you’ll have the chance to expand your professional circle by connecting with over 350 ecommerce, fraud and risk leaders from top companies like Amazon, Abercrombie & Fitch, Mastercard and Google.

The post Three reasons you can’t miss Signifyd’s FLOW Summit 2024 appeared first on Signifyd.

Brendan Witcher, vice president and principal analyst at Forrester, opens with a critique of the misuse of the term “strategy” in business, emphasizing that real strategy is about a profound understanding of business problems, rather than relying on generic models or clichéd phrases. He highlights the necessity for deeper thinking in the age of AI and chatbots, as tactical and mundane tasks become automated.

Challenging assumptions: One of Witcher’s central arguments is the danger of unchecked assumptions in strategy. He recounts an experience where a retailer, over four hours, made 136 assumptions without data backing. This, Witcher argues, is a common pitfall where businesses pursue projects based on unfounded beliefs, often leading to failure.

The seven principles of strategic thinking: The bulk of Witcher’s presentation focuses on seven principles for successful strategic thinking. These include recognizing the dangers of assumptions, the misuse of data, the need for a realistic understanding of the business environment and the importance of continuous strategy evaluation even post-execution.

Beyond the big seven: In addition to the seven principles, Witcher briefly touches on five more steps to master strategic thinking. These range from collaborative strategy development to questioning strategies that rely on dramatic changes in consumer behavior and the importance of not relying on hope or chance in strategic planning.

Data: A double-edged sword: Witcher warns about the pitfalls of ubiquitous data access. While data is crucial, it often tells a misleading story if you don’t carefully analyzed it. He uses the example of sustainability practices in consumer behavior to show how real-world actions often contradict data-driven assumptions.

Recognizing and addressing failure: Another significant point is the need to anticipate and embrace failure. Witcher urges companies to seek out problems in their strategies, a process he says is essential to uncovering issues that could lead to failure. He emphasizes the importance of not just throwing away a strategy at the first sign of trouble, but rather, investigating and tweaking it to find success.

Understanding the business landscape: Witcher draws on Sun Tzu’s teachings from “The Art of War” to stress the importance of understanding the business landscape. He cites Amazon’s Dash buttons as an example where a failure to understand consumers and the market led to a flawed strategy.

Bringing fearless thinking into organizations

Witcher encourages us to bring fearless thinking into our organizations. He stresses that strategies should not be based on random chance but should be purposeful, well-vetted endeavors in the pursuit of positive outcomes. He urges businesses to embrace ideas from all sources but to rely on aggregated expertise for robust strategies.

Witcher’s session at the FLOW Summit 2023 is not just an academic discussion but a practical guide, filled with real-world examples and actionable advice on how to rethink your approach to strategy in an increasingly complex and AI-driven world. Watch it now.

Shape your ecommerce future at FLOW Summit 2024

Join industry leaders in New York City on April 17, for Signifyd FLOW Summit, an immersive experience designed to equip you with the resilience needed to thrive in the evolving retail landscape.

Dive deep into

• Actionable strategies to navigate, change, combat fraud and build lasting customer loyalty
• Engaging sessions led by renowned brands like Abercrombie & Fitch and Forrester
• Dedicated tracks for both ecommerce and fraud & risk professionals

Network with 350+ peers and forge valuable connections that will propel your business forward. Explore the agenda for a full breakdown of topics and speakers.

Don’t miss this exclusive opportunity to shape your ecommerce future. Register now!

The post Exploring Forrester’s approach to business strategy and AI – a FLOW Summit replay appeared first on Signifyd.

Jason Knell (Adobe): Emphasizes the importance of personalized experiences at scale through data-driven insights and collaborations with partners like Signifyd for fraud prevention. He highlights the challenge of merchants being overwhelmed by the abundance of solutions and advocates for a strong ecosystem with seamless integrations.

John Winstel (FIS): Focuses on the post-transaction phase, pointing out the significant cost and opportunity associated with returns. He describes FIS’s solutions like Guaranteed Payments and Off Max, which enable fraud protection with chargeback guarantees and minimize friction for legitimate transactions. John also championes the idea of rebundling the payments stack to simplify integrations for merchants, especially in the SMB space.

Cy Khormaee (Google): Highlights the delicate balance between security and frictionless experiences, citing advancements like frictionless reCAPTCHA to combat fraud without impacting shoppers. He emphasizes the need for continuous adaptation as fraudsters increasingly leverage automation and AI.

Kelli Lin (Narvar): Describes the post-purchase window as a critical opportunity to delight customers with tracking information, easy returns, and fast refunds. She points out that 30% of consumers have a negative returns experience, highlighting the immense potential for improvement and brand loyalty building.

Rajpreet Shikak (Worldpay): Introduces the concept of Trusted Mid, a solution that identifies low-risk transactions for immediate approval. He underscores the value of data and collaboration, particularly between merchants and issuers, for faster fraud detection and smoother customer experiences. Raj also discusses the potential of large language models and data consortiums in the future of commerce, emphasizing the need for unique customer data insights to gain a competitive edge.

Overall, the session paints a picture of a dynamic commerce landscape where collaboration, data-driven insights, and seamless platform integration are key to delivering exceptional customer experiences throughout the entire journey. The future of commerce, as envisioned by the panelists, lies in breaking down silos, connecting platforms, and harnessing the power of data to create personalized, frictionless, and ultimately, delightful experiences for every customer. Watch it now.

Shape your ecommerce future at FLOW Summit 2024

Join industry leaders in New York City on April 17, for Signifyd FLOW Summit, an immersive experience designed to equip you with the resilience needed to thrive in the evolving retail landscape.

Dive deep into

• Actionable strategies to navigate, change, combat fraud and build lasting customer loyalty
• Engaging sessions led by renowned brands like Abercrombie & Fitch and Forrester
• Dedicated tracks for both ecommerce and fraud & risk professionals

Network with 350+ peers and forge valuable connections that will propel your business forward. Explore the agenda for a full breakdown of topics and speakers.

Don’t miss this exclusive opportunity to shape your ecommerce future. Register now!

The post Optimizing the customer journey across platforms – a FLOW Summit replay appeared first on Signifyd.

The FLOW panelists start things off by emphasizing the importance of comprehensively understanding a company’s internal operations before considering international expansion. This deep understanding helps identify potential areas for growth and the challenges that may arise in new markets. And before the session wraps up, they cover the following:

The build versus buy dilemma: A significant part of the conversation revolves around the ‘build versus buy’ dilemma faced by companies looking to expand internationally. Tara and Jason share insights from their experiences at Wish and ESW, respectively, illustrating how this decision can shape a company’s expansion strategy.

Emerging payment trends: Jason Macklin brings to light the evolving landscape of international payment trends. His insights include the nuances of different geographic regions and how adapting to local payment methods can be crucial for successful market penetration.

Challenges in new markets: The panelists discuss the various challenges companies face when entering new markets. These challenges range from cultural and linguistic differences to navigating regional regulations and consumer behaviors.

Future innovations and ecommerce strategies: Looking ahead, the discussion touches on future innovations in ecommerce and the strategies that companies can adopt for efficient and effective international expansion.

This session at FLOW Summit 2023 provides a rich exploration of the dynamics of international ecommerce expansion. The insights shared by the experienced panelists offered valuable lessons for businesses aiming to venture into new global markets. Watch it now.

Shape your ecommerce future at FLOW Summit 2024

Join industry leaders in New York City on April 17, for Signifyd FLOW Summit, an immersive experience designed to equip you with the resilience needed to thrive in the evolving retail landscape.

Dive deep into

• Actionable strategies to navigate, change, combat fraud and build lasting customer loyalty
• Engaging sessions led by renowned brands like Abercrombie & Fitch and Forrester
• Dedicated tracks for both ecommerce and fraud & risk professionals

Network with 350+ peers and forge valuable connections that will propel your business forward. Explore the agenda for a full breakdown of topics and speakers.

Don’t miss this exclusive opportunity to shape your ecommerce future. Register now!

The post Navigating global ecommerce and international expansion – a FLOW Summit replay appeared first on Signifyd.

The panelists at the FLOW Summit on artificial intelligence and robotic process automation kick off with an introduction to how AI is revolutionizing business processes. The panelists share their insights on the tangible results of AI integration, recounting successful implementations and learning from past failures. From there, Jared Shaner of Trellis, Antonio Colicchio of Abercrombie & Fitch and Hani Batla of Adorama were off and running. They also covered:

Real-world applications and measurable impact: Antonio Colicchio discusses the journey of Abercrombie & Fitch in the realm of automation, focusing on robotic process automation (RPA). He highlights the company’s initiatives in digital fraud prevention and customer care, providing a concrete example of RPA’s efficiency.

Overcoming challenges and embracing AI: Hani Batla shares Adorama’s approach to embracing AI and automation. He illustrates how the company has leveraged these tools to empower its teams and drive better efficiencies, particularly in its customer engagement strategies.

Future trends and generative AI: The conversation also explored future trends in AI, including the role of generative AI and the challenge of optimizing AI for trust and reliability.

Audience interaction and practical insights: A significant portion of the session involved Q&A and audience interaction, where attendees engaged directly with the experts, gaining valuable industry perspectives and innovation insights.

This session at FLOW Summit 2023 provides a glimpse into the evolving landscape of technology, particularly how intelligent automation is shaping the future of business. The discussion underscores the importance of strategically integrating AI and RPA to add value and enhance efficiency in various business processes. Watch it now.

Shape your ecommerce future at FLOW Summit 2024

Join industry leaders in New York City on April 17, for Signifyd FLOW Summit, an immersive experience designed to equip you with the resilience needed to thrive in the evolving retail landscape.

Dive deep into

• Actionable strategies to navigate, change, combat fraud and build lasting customer loyalty
• Engaging sessions led by renowned brands like Abercrombie & Fitch and Forrester
• Dedicated tracks for both ecommerce and fraud & risk professionals

Network with 350+ peers and forge valuable connections that will propel your business forward. Explore the agenda for a full breakdown of topics and speakers.

Don’t miss this exclusive opportunity to shape your ecommerce future. Register now!

The post Key strategies for integrating AI in business – a FLOW Summit replay appeared first on Signifyd.